Dave Mortach | Incorporating Philanthropy into Your Financial Plan | Avon, OH

Dave Mortach
3 min readJan 16, 2024

As individuals navigate their financial journeys, the desire to positively impact the world often becomes a significant consideration. Incorporating philanthropy into your financial plan aligns your values with your wealth and allows you to contribute to meaningful causes.

Define Your Philanthropic Mission

Before incorporating philanthropy into your financial plan, articulate a clear philanthropic mission. Identify the causes and issues that resonate with you on a personal level. Whether education, healthcare, environmental conservation, or social justice, a well-defined mission provides a compass for your philanthropic endeavors.

Align with Your Values

Philanthropy is most impactful when it aligns with your values. Consider the issues and values that matter most to you and your family. Integrating philanthropy into your financial plan becomes more meaningful and sustainable when it reflects your genuine commitment to making a positive difference in areas that resonate with your beliefs.

Establish a Philanthropic Budget

Treat your philanthropic efforts with the same financial discipline as other aspects of your plan. Allocate a specific portion of your income or assets to philanthropy, creating a dedicated philanthropic budget. This ensures consistent giving and allows you to plan for the financial impact of your charitable contributions.

Explore Different Giving Vehicles

There are various giving vehicles available, each with its unique advantages. Explore options such as donor-advised funds, charitable trusts, or direct giving to charities. Each vehicle offers different tax implications and flexibility, allowing you to tailor your philanthropic approach to your financial goals and preferences.

Incorporate Charitable Giving into Estate Planning

Extend your philanthropic impact beyond your lifetime by incorporating charitable giving into your estate plan. Consider leaving some of your estate to charitable causes through bequests, charitable trusts, or other planned giving strategies. Estate planning with a philanthropic focus creates a lasting legacy of impact.

Engage Your Family

Philanthropy is an excellent way to instill values and a sense of social responsibility within your family. Engage your family members in decision-making and involve them in philanthropic activities. This fosters a culture of giving and strengthens family bonds through shared values.

Leverage Matching Programs

Many employers offer philanthropic matching programs, matching employee donations to eligible nonprofits. Leverage these programs to amplify the impact of your giving. Check with your employer to see if they offer such initiatives, and take advantage of this opportunity to maximize your charitable contributions.

Measure and Evaluate Impact

Like any other aspect of your financial plan, philanthropy should be strategic and results-oriented. Establish metrics to measure the impact of your giving. Evaluate the outcomes of your contributions and adjust your philanthropic strategy based on the effectiveness of your chosen initiatives.

Stay Informed and Engaged

Philanthropy is an ever-evolving landscape with emerging issues and innovative solutions. Stay informed about the social and environmental challenges of our time. Regularly reassess your philanthropic mission and explore new opportunities to address evolving needs.

Network with Like-Minded Individuals

Joining philanthropic networks and collaborating with like-minded individuals can amplify your impact. Networking provides opportunities to learn from others, share insights, and participate in collective efforts that address broader societal challenges.


Incorporating philanthropy into your financial plan is a powerful way to create a positive and lasting impact on the world. By defining your philanthropic mission, aligning with your values, establishing a philanthropic budget, exploring different giving vehicles, incorporating charitable giving into estate planning, engaging your family, leveraging matching programs, measuring impact, staying informed, and networking with like-minded individuals, you can seamlessly integrate philanthropy into your financial journey. Remember, philanthropy is not just about giving; it’s about strategically leveraging your financial resources to contribute to a better, more equitable world — one meaningful act of generosity at a time.

Originally published at https://davemortach.org on January 10, 2024.